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, there are -- 4:37, now, there are just five weeks until america goes over the fiscal cliff. susan mcginnis is in washington with what republicans and democrats now say they are willing to do to reach a deal. >> reporter: president obama and congress begin negotiations this week to avoid are the coming fiscal cliff, about $6 billion in tax hikes and spending cuts that will kick in. both sides say they're looking for ways to compromise. >> that's what it's about, if regan and o'neill can do it, obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key is whether or not the republicans will move away from the id logically rigid tradition which was the grove pledge that they will not go for additional revenue. >> reporter: for the first time the antitax pledge seems to be negotiable. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid the coming grief and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean new taxes.
about the prospect of reaching a deal to avoid the fiscal cliff but cbs reporter danielle hotting ham said they're also sounding some alarms. >> reporter: the senate returns today with just five weeks left to hammer out a deal to avoid the fiscal cliff. republican senator bob corker says lawmakers need to show some political courage to prevent tax increases and spending cuts from taking effect january 1st. >> there's a menu of options on the revenue side and on the entitlement side, and while there are two parties, they are willing to solve this problem, this is a very easy thing to do technically. >> reporter: republicans are hinting they may be open to a compromise that raises revenue but many are still firm they won't let bush-era tax cuts expire for the wealthiest americans. >> i would be very much opposed to raising tax rates but i do believe we can close a lot of loop holes. >> reporter: democrats say just closing loop holes and limiting deductions is not enough to make a dent in the nation's $16 trillion deficit. >> you've got to raise additional revenues, including tax rate
two weeks -- >>> bus full of paiges crashes into a child's bedroom. >> avoiding fiscal cliff new poll reveals what americans >>> good morning many rain continues to focus on the north bay now it will begin to shift east and south winds 30 to 40 miles an hour from pacifica to half moon bay. you can see yellows continue to push into sonoma and marin that's where the rain is beginning to pick up. bodega bay, santa rosa light returns further south blue, not much happening here, a few areas of light showers from 580 along san francisco, the peninsula, very light returns into the east bay still quiet the winds definitely getting woken up by those winds in the next two hours, 7:00 to 9:00 the rain will continue to come down moderately not behind the front now until noontime, very active weather, still to come. >>> right now we want to take you back out for live pictures. you can see on your left is san rafael, folks there are getting wet and the winds are the big issue. we have a tweet who just mentioned in sonoma they are getting a lot of rain. on the right paca, along the coast where you w
coming to a fiscal cliff. this just hours after she spoke at a women's dinner here is what she had to say. >> we need to grow our mobile expertise really quickly. one of the things we concluded is that yes, we need to hire one by one, won't it be great if we got shrugs of people that were a team, already knew how to work together? so we've been looking at aqua hires, we've done our first one. >> in addition, myer says yahoo will possibly look to partnership was other companies. more bad news on the hewlett-packard front. deals with the falout with autonomy write down, moody's cut the ratings today, three level as above junction status. moody's says it's worried about hp ability to compete as well as numerous execution challenges. and apple is winning in the netherland. a dutch court banned sale of some gal yachlsy product that's allegedly infringe on the apple photo navigation patents. the ban only applying to older products that don't run on updated photo galleries but samsung still going to have to pay apple $129,000 for every day it violates the ruling. a check in on how stocks are tra
to keep pushing for his ideas on how to avoid the fiscal cliff looming ated end of the year. all this -- at the end of this year. the president wants to extend tax cuts for middle-income americans while letting them expire for those people who earn more than $250,000 a year. coming up at 7:45, whether republicans and democrats are any closer to a deal. >>> wellge the nation's lowest housing -- well, the nation's lowest housing rate is in the south bay. only 3% are vacant. that translates to just 28,000 empty properties out of almost 651,000. nationwide apartment rents are expected to go up again next year. the national association of realtors rents will go up 4.6% because demand exceed supply. in 2014/2015, rents will probably go up more than 4%. nationwide they went up 4.1% this year. but here in the bay area, they are up more than 13%. >>> it is 7:5. a crane had to be us -- it's 7:35. a crane had to be used for a sink holt. these pictures are from a -- sinkhole. these pictures are from a neighborhood blog. it's not clear what caused the sinkhole or when it might be fixed. >>> l
public support for his plan for the fiscal cliff crisis. >> reporter: dave, the president is meeting with ceos, including those who backed mitt romney and then he will meet with middle-class families. he's trying to sell the plans for the fiscal cliff, those that kick in at the end of the month. now, investors grow increasingly worried about whether congress should be able to avert the crisis. democrats and republics are deadlocked on a range of issue including the president's plan to raise taxes. republicans say the proud should quit campaigning. >> he's back on the campaign trail, presumably doing what we're all familiar with. >> so to suggestion that we should -- now that the election is over stop talking to them about these vital issues, i think is bad add -- bad advice. >> reporter: reporting live from washington, d.c. alison burns, ktvu channel 2 news. >>> 400,000 unemployed californians are closely watching the fiscal cliff. that's because benefits are due to expire december 29th unless congress extends them. >>> well, texas city leaders are asking for advanced warning in the
. >> the fiscal cliff sparks talks of compromise on capitol hill. >> without a deal spending consults and tax increases will kick in at year's end likely sending the country into another recession. >>> several republicans back away from a tax increase. >> if congress does nothing, which congress has gotten pretty good at doing these days we'll go over the fiscal cliff. >> we have to show the world we're adults. the election's over. president obama won. >>> it's a big weekend for shopping. it isn't over yet. today is cyber monday. the biggest day for online sales. >> shoppers are expected to spend $1 billion 1/2 today. >> and some like to shop in bunny slippers. >> and fret mohammed morsi granting himself extra powers. >> sending the country's stock market into free fall. >> buy a ticket for this wednesday's powerball lottery, you could win in the megaball. >> bradshaw with the touchdown. >> giants tommenate. >> officially a time-out. >> cheerleaders shave their head to support the coach diagnosed with leukemia. >> and all that matters -- >> suddenly changes into
fiscal cliff could hurt consumer confidence they say the threat of sudden increase in tax for middle class could put the brakes on holiday shopping. news has had an impact on stocks today with target, macy's and other retailers falling, dow down 64 points. >>> still much more ahead, another factory fire in bangladesh days after a deadly blaze at a company that makes clothes for big name retailers here. >> the elect was weeks ago some campaign something heating up again state senator from the bay area wan >>> there's been a second fire at a clothing fire in bangladesh, two days after another fire killed more than 100 workers. this is new video of the latest fire. the fire department believes everyone did get out safely. thousands took to the streets today demanding justice. officials say that building had no emergency exits when the fire broke out, workers above were trapped. the factory made products for wal-mart and other companies in the u.s. and europe. the bangladesh government has declared tomorrow a national day of mourning. >>> happening now, egypt's president standing by his
, some lawmakers are willing to go against their own party to avoid falling off that fiscal cliff. >>> and the giants have another reason to celebrate. we'll tell you about the record-breaking payout that was announced this morning. you may be surprised who gets the full share. >>> it's cyber monday. we will look at the deals coming up in business news. [ female announcer ] what would you call an ordinary breakfast pastry that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a toaster strudel. pillsbury toaster strudel. so delicious...so fun. faster than mandy can hang up on mr. monday. you hang up first. [ female announcer ] in just 60 seconds, you've got snack-defying, satisfying totino's pizza rolls. [ ringing ] it's on. let's roll. >>> protesters are back in the streets of cairo and now there are fears a second revolution may be looming in egypt goi following the series of decrees. the decree that gives the president immunity from the nation's courts. nbc reports from cairo. >> reporter: for a fourth straigh
the fiscal cliff. we have tracie potts with details from washington. >> reporter: today, president obama meets with small business leaders. a new white house economic report warns if tax breaks go away, the average middle class family will owe uncle sam $2,200 next year. >> middle class families should see an extension of the tax cuts. >> reporter: some republicans who have been dead set against raising taxes on anyone now hint they may consider other options. >> we have been open to revenue by closing loopholes as long as it is tied to spending cuts and pro-growth tax reform that broadens base. >> you don't raise rates. you cap the amounts of eitemize deductions. >> reporter: america is borrowing too much money trying to keep social security and medicare afloat. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> this congress is already one vote away from avoiding the fiscal cliff. >> reporter: and no word yet on when the next white house meeting will happen. tracie potts, nbc news, washington. >>> thank you. the governor of new
's looming. the so called fiscal cliff is getting closer and apparently no movement in congress to avoid it so far. the impasse is over raising tax rates on upper bracket income earners. republicans say they're willing to consider a tax hike but they want larger cuts made to benefit programs. the small business leaders came to avoid the cliff and tax hike on the middle class. on friday he's off to philadelphia where he will make a public case for his strategy and two gop leaders. >> rather than sitting down with lawmakers of both parties and working out an agreement, he's back on the campaign trail. >> the election was conclusive in terms of which path the majority of the american people want to take. >> house republicans are also planning to hold events in the coming weeks with small business owners to highlight the effects the tax increase could have on them and their likelihood. how does the fiscal cliff impact california? larry, a lot of talk on how it will impact high earners. a lot of middle income class folks could feel it as well. >> if we go over the fiscal cliff, we're going to
fiscal cliff, it will increase the likelihood of another recession. lawmakers say they're willing to compromise. >> when you're $16 trillion in debt, the only pledge we should be making to each other is avoid becoming brief and republicans should put revenue on the table. >> the big questions are whether republicans are open top some forms of tax increases and whether democrats will consider cuts to entitlement programs. >>> e elected officials including the governor and all the legislatures are getting their pay cut by 5%. for example, pay for the attorney general palilia harris is being cut to $143,000. that's a hundred thousand less than her replacement. but people don't run for office for the money. >> they're doing it because of a variety of factors, including the pursuit of power, the ambition to go to higher places and also of course hopefully public service that they want to give back to their community. >> the california citizens compensation commission ordered the pay cuts and they cut per diem pay by 18%. >>> carbon monoxide sent more than a dozen people to the hospital
to debate so called fiscal cliff. your bloomberg silicon valley index a little higher. the new york man who claims to own part of facebook has been indicted for wire and mail fraud. he was arrestedézpk last month accused of0l"ty faking e mails m mark zuckerberg and fabricating other evidence to bolster claims he owns part of the social network. the lawsuit is spill(b stil pending. back to you. >> thank you. >> sandhya patel is here with weather. the last day or two, nice weather. >> enjoy it while it's lasts, right? we've had fog around tomorrow, more fog in the morning. mostly dry, then, storms move n we'll be talking about three storms when taking you outside. we're looking at fog. you can see high clouds moving in up above. let's check out live doppler 7 hd.ác@Ñ fog lifted a lit. -- bit. it hasn't cleared out. it's going to be likely dense again in patches roont. temperatures into 50s along the coast. 60 as cross the bay area. areas of fog overnight, wet, windy starting wednesday, more storms going into the weekend. three storms coming our way. tomorrow morning watch out for valley fo
understand the fiscal cliff is a scary and a series of living tax hikes. it could damage the economy. president obama has been pressuring congressional leaders to reach a compromise that increases taxes on wealthy americans. a handful of republicans are suggesting they might break their pledge to never vote for higher indicate taxes. >> and for the good of the country only if democrats would do a title that. >> the pledge that we signed 18-20 years ago but the world has changed. >> is music to the ears of the white house but disturbing to this man. the anti-tax crusader that cut republicans to tax no tax- agreement. it >> if you want to go to your voters and say i promised to this and i am breaking the promise you have that conversation. >> if he seems confident so for these numbers are not on his side. 258 members of congress that have signed the pledge with only one half dozen have publicly expressed doubts about it. the test of weather they are were ready to break the tax increase will, in the next six weeks. catherine heenan, kron 4. >> the state of york is requesting nearly $42
more is known about whether and not government leaders will be able to avert the fiscal cliff. >> taxes go up for everyone, less money to spend and you don't buy anything. >> one of the benefits of shopping on line is that you can do it from just about anywhere. with most people back to work on sun insider monday we're asking on facebook if you made any purchases from your job? if you have not done any cyber monday shopping yet it is still out there still time to snag a deal. >> the stakes are high and we need to address this in a serious way. >> this is the thumb and louise crowd. the ones who dream of higher taxes and bigger government. >> is only the house would consider freezing tax rates for 90 percent of the moment american families >> people want to know if washington is any closer to avoid the dreaded fiscal cliff. we'll have the latest on progress after the break. >> 36 days and counting until the fiscal cliff and washington lawmakers are heading back to work after thanksgiving break. there are hints of compromise in the air. most americans understand the fiscal cliff is scary
the so-called fiscal cliff. that's when spending cuts and tax increases kick in. lawmakers from both parties are racing the clock to reach a compromise but despite a lot of optimism there is no plan on the table. brian moore has the story from washington. >> reporter: back from an extended holiday and facing a looming deadline, lawmakers from both parties seem optimistic about diffusing the fiscal cliff time bomb. >> unfortunately, for the last ten days with the house and congress gone for the thanksgiving recess there hasn't been much progress made. tomorrow there's no excuse. we are back in town. >> reporter: democrats want to raise taxes on the wealthiest americans and republicans who once refused to raise taxes on anyone ever are signaling their willingens to compromise. >> when you are $16 trillion in debt the only pledge we should be making to each other is to avoid the coming grove and republicans, republicans should put revenue on the table. >> the world has changed and the economic situation is different. ronald reagan and tip o'neill realized that in t '80s. already if repu
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. and just a few weeks for physical clef issues. with spending cuts. we have the latest on the fiscal cliff. >> after meeting with president obama before the thanksgiving holiday. >> let the bulk of the congressional leadership. >> congressional leaders reached optimism levels of spending cuts and tax increases for next year. >> we have a very constructive president with the president to talk about the economic problems. >> with a cornerstone to work something out. >> they have been working common ground to bring in more tax revenue and reduced spending on programs like medicare but it is not that clear what lawmakers or when there will meet next. even if some progress is made a final deal could be a long ways away. >> we've rarely see it the white house and capitol hill make decisions, early. they seem to do better when they have a deadline. i would be pleasantly surprised to see a deal the merge, early but we will see. >> that was athena jones. tax hike and a steep spending cuts could take place next year. >> the saturday after thanksgiving is the time to celebrate small business saturday
. >>> with the fiscal cliff looming, the white house today continued its hard line, insisting that tax rates have to rise for the rich, and warn that any more delays would ruin consumer confidence. there are signs of movement on capitol hill, but democrats are not willing to cut social security and medicare. and while some republicans agree the rich should pay more, they want to raise money by reducing deductions, not through higher tax rates. >> i don't care if you raised taxes 100% on the wealthy, you're not going to fix the deficit problem. >> the president has made clear that he will not sign a bill that extends the bush era tax cuts for those make mortgage than $250,000. >> billionaire warren buffett, an obama ally today wrote an editorial in "the new york times," calling for a higher minimum tax for the wealthy. >>> a shake-up in the middle east in politics today as an israeli moderate resigns. israeli defense minister ehud barack abruptly quit politics today, saying he'll only finish out his term. the obama administration had embraced him as a moderate influence on benjamin netanyahu's har
three weeks left before the fiscal cliff, the clock is ticking for president obama and congress. >> the clerk will read the communication. >> reporter: lawmakers are back at work and under the deadline pressure. >> we can solve the greatest economic emergency facing the nation today. >> reporter: white house economist say without a deal to avoid the fiscal cliff, americans may start closing their wallets during the critical holiday shopping season. and curb their spending well into next year. >> they think that it is important that congress extends the middle class tax cuts without delay, without drama. and it is because it will help to maintain the increase in the consumer confidence that we have seen. >> reporter: both sides say they are ready to compromise to avoid the nearly $600 billion in tax hikes and mandatory spending cuts, scheduled to kick in on january 1. but the taxes, they remain the sticking point. republicans and congress, they have been long opposed to any tax increases, but the gop lawmakers say that they are open to raising more revenues through the tax ref
the fed chairman to the president about thefully -- about the fiscal cliff. [ male announcer ] this december, remember -- you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. >>> consumer sentiment stalls at the end of november as uncertainty grew grew. the dow is -- uncertainty grew. the dow is up 19. nasdaq down, 1. s&p is flat. >>> the labor department released the weekly jobless report a day early because of the thanksgiving holiday tomorrow. first-time claims fell by 45 41,000 but the -- 41,000. but the number remains higher than expected because of hurricane sandy. 410,000 americans filed for initial jobless benefits last week. economists had expected the number to be higher. >>> and hewlett-packard's stock is up about .5 right now. this is after a 12% drop yesterday morning. investors started the selloff after hp's announc
cutting back on business travel before the potential fiscal cliff, usa today says. one company will spend $20 billion less in the next two years if the fiscal cliff happens. >>> the boston herald reports massachusetts highway safety director is resigning. sheila burgess came under fire because her driving record includes seven accidents, four speeding violations and a ticket for not wearing a seat belt. did we mention she's the highway safety director? this week, the governor said it was a screw up his words, to hire burgess for that job. she cites health reasons for her resignation. >>> and the telegraph says the pope says in his new book that christ was born earlier than commonly thought. he says dennis small made that mistake many years ago and nobody caught it. many believe he was born between 17 bc and 200 bc. >>> good morning, and happy thanksgiving! weather outside looking very nice as we expect high pressure to build in overhead. temperatures warming up very nicely toward the afternoon a little chilly early on today. but the latter part of the
in the s and p posted losses. was it greco's. >> in the fiscal cliff is inching closer and closer by the day tax increases and deep spending cuts take effect in five weeks. if lawmakers cannot reach a deal. with little progress being made in washington president obama is hitting the road. at paine has the story. >> the mood was optimistic earlier this month when president obama met with congressional leaders to work out an agreement to avoid this cliff. now the president is taking his case mr. obama met with small-business owners tuesday. today he hosted an event with middle-class americans and sits down with some of the nation's top ceos. friday he travels to a manufacturing plant in pennsylvania senate minority leader mitch mcconnell question the president. >> president saddam the law makers and working out with the agreement is back on the cam best-president obama >> the president got input outside the beltway. he wants to continue the conversation when business leaders, small business leaders, civic leaders, and labor leaders because everyone has a stake in this. >> lawmakers
increased 19% in the last year. and where they are concerned is the fiscal cliff. >> new in the next five minutes on abc 7 news at 5:00 what are the must haves on the wish list? 7 on your side michael finney will show which stores are offering the best deals on products this black friday. including computers, tvs and sporting equipment. >> stay tuned for that. 49ers coach cleared the air today about his ig regular heartbeat ask a possible quarterback controversial. he received electrical therapy. as for the controversy, he says isn't one. >> two quarterbacks we're confident have one force. and... we believe in. and... to me, it's opposite of a controversy. >> coach expects alex smith to be cleared soon. back up quarterback will start sunday if smith is not cleared. >> a bay area woman is going back home tonight after an abc 7 news i team investigation uncovered officials violating a federal regulation. >> that is right. now, the county is changing policy moving the woman back into the home she never wanted to leave. >> the report is that families complained public guardian's office moved
, to look over the so-called fiscal cliff. some existing tax cuts will expire. that could slow the economy or even move it back into recession. up until now, republicans have been unwilling to consider raising taxes, something that democrats say has to change. >> as president eisenhower says, there will have to be compromises and seeking the middle of this rote isn't just acceptable, it's the only way forward. >> most republicans signed a pledge to never raise taxes, but gop law makers say that now they'll have to put that pledge aside for the good of the nation. >>> on wall street, the markets.finished mixed, nasdaq gained nine, apple leading the way up 8%. >>> shareholders. some analysts had suggested that investigators are underestimate's facebook's growth potential from ad revenue. the stock gained 8% today but is still well below its public offering price. six months ago, the company went public with an ipo price of $38 a share. >>> securities and exchange commission. walters who's a democrat serves as a democrat, she takes over for mary shapiro, shapiro leaves next month in the wake
and republicans are each setting up their approach to avoid the fiscal cliff. events this week were aimed at selling his remedy including allowing higher taxes on the wealthy. republicans are claiming that he should instead be sitting down to talk more with them. >> it seems like our president is having some sort of difficulty turning off the campaign. we need to sit down and work this matter out. >> there is little progress with the republicans which is disappointing to me. i they talked some happy talk about revenues but we only have a few weeks to get something done. >> of republicans have had their own meetings. the fiscal cliff is a series of tax increases and spending cuts that economists predict could send the u.s. into a recession. former senator bob dole of kansas has been hospitalized. not many details were replaceleased. his name was mentioned on the senate floor today. dole over came disabling work injuries to perform his 26 year political career. >> hector camacho camacho died saturday after being shot outside a bar. during his career the flamboyant boxer had a long string of
, d.c., the president meeting with corporate executives today discuss that fiscal cliff. scott mcgrew got on the silicon valley's name. >> president obama has met with many ceos, and while lots of ceos have experience and wisdom to lend him, got to see this in a bit of a political light as well. melissa meyer, for instance, is brilliant but probably knows very little about public policy. she's an engineer, so the president getting advice, but drumming up support among the powerful for his version of what we should do about the cliff. myers spoke in a fortune magazine clip last night. her secret, she says, is prioritizing, she referred to green bay packers vince lombardi's three priorities, god, family and the packers. >> for me, it's god, family and yahoo! in that order. >> why the packers comparison? meyer drew up in wasaw, wisconsin. >>> we go back to the summit on highway 17 and check in with bob redell with the wind conditions there. bob, luke soaked? >> reporter: yeah, it's slightly wet up here. we've got a break, that's one thing that chp is pointing out just because the rai
to the "fiscal cliff," it might seem like a bad time for business to bet the farm. but that is exactly what some bay area businesses are doing. cbs 5 reporter mike sugerman shows us they are hoping today's risk will be tomorrow's reward. >> reporter: the company is called jive. these days business is anything but. >> we hired over 100 people throughout the course of 2012. we have opened a new office in san francisco. >> reporter: tony zingale runs the company a social software for the workplace and it's booming not falling off a "fiscal cliff" not concerned with dark clouds over europe. it sees itself on the leading edge of recovery. >> economic downturns always have an up turn at some point and the great companies are the ones that are prepared for that. >> certainly good times in san francisco or they are coming back strong. >> reporter: at the chamber of commerce they point to a lowering unemployment rate and more jobs led by tech, healthcare and tourism. where will they all sleep in where are they going to recline? on their power recliner? >> we're cautiously optimistic. >> reporter: that th
to the suspects. >>> warning from the fed chairman to the president and congress about that fiscal cliff. >>> pretty rainy on san mateo bridge and the weather could also effect flights into and out of sfo. we'll have more of that coming up. ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. brings light and fragrance together, to create a mesmerizing experience in your home. try the new color changing candle. something in the air wick. >>> welcome back. time now 5:13. president obama is back at the white house this morning after his whirlwind trip to southeast asia. here is video the president returning to joint base andrews in maryland after midnight last night. the white house says the president trip was successful in showing that asia is strategically important to the u.s. especially as a trading partner. and the white house says the president's visits to myanmar and cambodia demonstrate how the u.s. example can influence other countries. >>> ben bernanke is
months. but many expressed concerns about the looming fiscal cliff that includes tax heights and spending cuts that are set to hit january 1 if congress fails to act. >>> and the dow is up 48 points. the s&p rose 3. >>> a cease fire agreement has for now quieted the violence in the israel-palestinian conflict. rita is live in our newsroom now where heartbreaking stories just continue to pour in. >> reporter: that's right, gasia. there was a cease fire and a feeling of relief today on both sides of the gaza-israel border. with strong backing from the united states, the deal was brokered by egypt's new muslim brotherhood president and he'll oversee its compliance. >> this is a critical moment for the region. egypt's new government is assuming the responsibility and leadership that has long made this country a cornerstone of regional stability and peace. >> reporter: the united states promised additional military aid to pressure israel to accept the cease fire now. the israel prime minister who supported mitt romney over president obama made it clear that the ground invasion remains ready.
shares are still down about 30% from the initial public offering back in may. >>> with the fiscal cliff edging closer, the white house took a hard line, insisting they have to rise from affluent americans and many more delays could hurt hol dha roadway tail sales. >> the senate will come to order. >> back from thanksgiving, senators are on the sidelines. >> really we have to make tough decisions. >> the house has the ball. >>> i don't care if you raise taxes 100% on the wealthy. you're not going to fix the deficit prap. >> the republican leader is talking about it. but republicans are open to new rev new because of the new reality. >>> well, the president got reelected and we know at the end f this year taxes are going up on everybody. >> republicans say if the rich do pay more it should come only by reducing their tax deductions. democrats still insist on a rate hike on the rich. >> the president has made clear that he will not sign a bill that extends the bush era tax cuts or those making more than $250,000. >> billionaire warren buffett, an obama ally, again with a rate hike on the r
the money and run. whatever happens with the fiscal cliff taxes on the very >>> good morning. winds gusting in excess of 30 miles an hour at our coast, wind advisory throughout the entire bay area -- [ inaudible ] wind warning at our coast we could see winds there in excess of 60 miles an hour through 11:00 this morning. >>> we'll continue to keep an eye on those winds. residents on the peninsula will be keeping an eye on a slipping hill slide where a mudslide happened earlier this month. a water main break caused this mess along several streets in daly city november 13th crews have been going around the clock to shore up parts of that hill to keep debris from flowing into the neighborhood daly city has spent almost half a million dollars to repair the damage. >>> in iraq residents of a baghdad neighborhood are cleaning up following a car bombing the blast killed five on a day when insurgents launched taxes against security forces and civilians in central and northern iraq yesterday, 30 were killed, dozens wounded. >>> in egypt several hundred protesters continue to clash with police in cai
to the fiscal cliff deadline what charities say could happen to them. >> and a live look outside, 880 in oakland. highway patrol responding to a crash near the 980. >>> also a situation we have been following in marin, all lanes of 101 southbound back especially after a hit and run crash. orq . >>> good morning to you. welcome back on this saturday morning. sun, just glistening off the water. clear, calm conditions, little bit of patchy fog this morning. >> federal investigators looking in to the cause of a plane crash that killed a pilot in the sierra foothills. that plane went down about -- just after noon, about four miles from the community. the pilot was the only person on board and his name hasn't been released. >>> arson ruled out in a power plant fire. the fire at was put out yesterday earlier than first expected. it's less than firefighters first thought. the power plant supplies power to pumps used by major water delivery systems. >> forecasters predict more flooding throughout the united kingdom. places hardest hit include southwest england. one man if died when rushing w
like he is still campaigning. to make the public case for strategizing the fiscal cliff. friday he will be meeting with business owners, small business owners. at the white house today the president will meet and tomorrow with middle-class americans. >> an 18 year-old accused of killing a man and injuring and police officer will be arraigned this week. here is a video of the other suspect in this case who was in court last wednesday. there china find a connection between the two. both are being held for murder, armed robbery, and attempted murder of a police officer. the drama of a 14 year-old boy charged as an adult with attempted murder sexaul assault and kidnapping of a 65 year-old woman has been postponed. caviar king was scheduled to be arraigned in court yesterday. authorities say he of the to the woman at dusk force to drive several miles away where he assaulted and beat her before leaving her in a ditch. police described attack as random. >> the two leaders will be remembered today. the commemoration will have two parts of the ceremony on the steps of city hall at 430 this
cliff, saying the threat -- fiscal cliff saying this could drive people to spend less this holiday season if congress does not act by the end of the year, everybody will owe more in taxes come next april and that most certainly could affect people's spending habits now. >> i think it means they are not spending as much as they would because they still don't know what is gonna happen. >> congress only has 35 days to come to an agreement on deficit reduction. if they don't, automatic tax increases and spending cuts will go into effect january 1st. both parties say they are ready to compromise but still no real progress has been made. >>> 7:33. one bay area hospital demanding to be reimbursed by the los angeles dodgers for the treatment it gave to bryan stow, the giants' fan brutally beaten in l.a. brian flores is live at san francisco general hospital with more. >> reporter: hi, dave. san francisco general hospital is seeking a $1.2 million medical reimbursement from the dodgers for medical care of bryan stow. the hospital went to -- hospital went to u.s. bankruptcy court in order to
as those fiscal cliff negotiations get under way. supporters are pushing lawmakers to protect social social security, medicare, and medicaid. the lobbiest with the defense industry they are also trying to fight spending cut backs. and the companies that make medical devices they are are trying to block new taxes from taking effect on their products because of the new health care reform law. a package of tax hikes and spending cuts known as the fiscal cliff will take effect in january unless congress can do something to balance the budget. >>> happening right now workers at walmart stores starting to walk off the job during the big holiday shopping rush. i want to take you to texas just got this in. workers walked off the job right as shoppers were getting ready to go into the store. other protests are planned in walmarts throughout the bay area. employees say they want walmart to pay better wages. while some say they will still shop at al port others say -- walmart others say they will support those workers. >> if they walk out, i'm not going to shop until they settle with them. you can bet
and the fiscal cliff we're talking not add the in the year. if that happens and we go over the cliff consumer drop spending could drop by nearly $200 million next year. this is why investors are a little apprehensive. >> people do believe in the class and they understand that it is no joking matter. --cliff the poll indicates 17 in 10 americans are calling for a compromise on the issues. they are pessimistic about anything actually happening. one out of four people say tax increases and spending cuts will it cause a crisis. >> the giant l'oreal is buying the edgy private cosmetic company urban decay. it will give l'oreal another entry into the specials as brands. urban decay makeup is sold through specialty retail stores like so fora for online shops. this deal will give l'oreal extended reach. we will take a break in here as aid look at our toll plaza. the fog is a real problem as we're watching the news began to back up. we will talk to george st of the drive times are slowing down. fog typically means delays that s f o and they are beginning to become an especially for are arriving flights
the dreaded "fiscal cliff." if they don't reach a deal by the end of the year, tax hikes and across the board budget cuts will automatically kick in. susan mcginnis has more on today's efforts to get democrats and republicans a little closer together. >>> reporter: president obama will begin a media blitz this week highlighting his efforts to steer clear of the "fiscal cliff." he will first meet with small business owners at the white house today. at the other end of pennsylvania avenue, fellow democrat senator dick durbin will give what's being called a major speech laying out a case for a bipartisan deal. durbin's a member of the senate's gang of 8, four democrats and four republicans who have collaborated on ways to reduce the nation's debt for 2 1/2 year. democratic senator mark warner is also in the gang and says democrats are willing to put entitlements like medicaid and medicare on the negotiating table. >> the math just doesn't work anymore not because the programs are bad but because thank goodness we're living a lot longer. >> reporter
that is a reason why if there is no deal there could be tax hikes and spending cuts of that-fiscal cliff. >> h-p has fourth quarter losses. the tech giant saying that the tech giant says it's written down $8.8 billion of the value, autonomy.. h p paid of $11 billion for the company last year it said the company discovered is had misrepresented its finances. h-p stock has lost the building permits, hit a four year high last month with building started on an annual pace of 894,000 homes in october. sports, coming up next with tedford.. out. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to
. because of taxes. >> these tax and estate experts are all talking about a provision of a fiscal cliff next year if congress does not act the tax increases from 35% to 55%, and the amount you can give tax free to children will drop from $10 million this year to $2 million next year. talking about a significant tax hike. >> the tax attorney says if couples don't take advantage, heirs will pay, dearly. >> so your so million estate is now worth? >> six, roughly. >> so families with more than a couple million are rushing to gift their children before year'slw'"Ñ end. >> our business is up 30% to 40% now. >> the managing directorb> of mfv. >> we've seen a lot of anxiety. a lot of angst to try to move well for the next generation. >> everyone says it's big. >> it could be big enough to have a t behind the number, as >> back at the day care center where money is tight, door he lowers says $10 million exemption should be qlor but estate tax seems high, even to her. >> people also made that money. and... that they're entitled to half of the money. >> as congress debates what the right rate and exe
not reform taxes and avoid the "fiscal cliff" that's scheduled at the end of the year, your tax bill could rise by the thousands. in years past, congress exempted most middle class and low-income families from something called the alternative minimum tax. if they don't renew that exemption, a family with two children making $90,000 a year could owe an extra $3,000 in taxes. >> we are going to see a lot of everyday people get caught. >> reporter: also on the chopping block a tuition credit for parents who have kids in college. in certain brackets if you have two students paying tuition you could lose a $5,000 credit. that's five grand out of your spending money. >> plan for difficult times because the taxes will go up and so what do you do? if you are spending every dollar that you're making right now and your taxes go up, do you go in debt or do you adjust what you're spending? >> reporter: grace lee, cbs 5. >> comings has until the end of the year to solve the probable -- congress has until the end of the year to solve the problems but uncertainty is affecting almost everybody. >> wall st
a way to avoid that so called fiscal cliff that could raise your taxes and throw the economy back into recession. kristen welker is in our washington bureau. good morning. >> reporter: president obama is also facing a number of challenges overseas, as you say, from the unrest in the middle east to the continuing fallout over the attack on the u.s. consulate in benghazi. but the fiscal cliff looms large. president obama returning from a post-thanksgiving round of golf, but off the links, the clock is ticking. lawmakers need to hammer out a deal to prevent the so called fiscal cliff. deep spending cuts and tax hikes set to take effect next year. >> i think we're all aware that we have some urgent business to do. >> reporter: after a meeting at the white house last week, congressional leaders struck a rare tone of bipartisanship. >> we had a very constructive meeting with the president. >> we feel very comfortable with each other. >> reporter: but a major sticking point remains -- taxes. president obama wants to let the bush era tax cuts expire for the wealthiest americans. many repu
. washington is running out of time and options with the fiscal cliff looming at the end of the year. >> the amount of damage of super storm stand the impact it has been catastrophic. according to the new jersey governor, $29.4 billion in damage is from damage to buildings, roads and the impact on the tourism. and also the new york governor is saying 33 billion that dollars. these are initial estimates, this was the only four weeks ago and still 30,000 people without power >> in egypt, the rising protests with morrissey making the declaration for this staging ground and plenty of staging ground with the enemy of the nation. including appeals, and supports for a loss that he supports. his power will be in place until a post from parliament. however, they are assuming that he the amount morsi made the declaration and tahrir square experience theticket to pressure-relieving comfort of tempur-pedic, and sleep risk-free with sleep train's 100-day money back guarantee. get 36 months interest-free financing: no down, and no interest for 3 years. plus, get free same-day delivery. sleep train
they directly supply hamas with weapons. >>> workers are determined to avoid sending the country off the fiscal cliff. congress now has 35 taser to come to an agreement on deficit reduction. if they don't spending cuts will go into effect on january 1st and both parties say they are ready to compromise. the number of deadly crashes were up but dui arrests were actually down slightly. the chp said 31 people were killed including 6 between wednesday morning and today. many of those people were not wearing those seat belts. 224 people were arrested on suspicion of dui and that compares to 227 last year. i definitely remembered to put on a seat belt this morning. fog is a major problem in many areas, right tara? >> reporter: the fog is taking hold in oakland, vallejo, and san francisco county so definitely take your time and here is a look, fog has just settled in there and traffic is going well, westbound are those headlights as you make your way towards concord. you can barely see anything and you can make out those headlights and at the bay bridge toll a plaza where a fog advisory is in effect f
sending the country off the fiscal cliff. congress has 45 days to come to an agreement on deficit reduction and if they don't spending cuts will go into effect january 31st. both sides are willing to compromise. >>> it is my decision to put them down and violate the pledge, long story short only if democrats will do entitlement reform. >> the key sticking point is what 0 do -- to do about taxes. they want to raise taxes and republicans don't want to. they are willing to cap certain deductions. >>> and perspective police officers, you can start applying for jobs at the san francisco police department this morning and they will start accepting applications for entry level police officers. eligible application cans have to be at least 20 years old, have a valid california driver's license and high school diploma or equivalent. it will end on friday december 7th and the starting pay for a san francisco police officer is 88,000 dollars a year. well for the san francisco 49ers there are quarterback questions all over again. it happened for the second straight game for the quarterback a
and the president are no closer to a deal to avoid masigs, tax increases in spending cuts that so called fiscal cliff. the senate top rbi republican says the president is back on the trail instead of sitting down with lawmakers to negotiate a settlement. the president met with small business owners to built support for the aproich. tomorrow, meeting with middle class families. the president wants higher taxes for the wealthy. and un ambassador susan rice went to capitol hill to meet with republican senators. she's high on the list to secretary of state. she's been under fire from senate republicans over the attac killed four americans, including u.s. ambassador chris stevens. today's meeting did not go well. >> we're doubled by many of the answers that we got. i'm more disturbed now than before. >> the republican senators stopped short of saying they'd block the nomination. they say they need more information and have more questions about the incident in benghazi. >> we're coming up on december to 1. that is the day mayans said the world would end. one scientist has been answering countless let
. >>> lobbyists are reaching out to lawmakers to protect their interests in the fiscal cliff negotiations. advocates, ask for the defense are fighting spending cuts and companies that make medical devices are trying to stop new taxes from going into effect on their products due to the new health care law. a package of tax increases and spending cuts known as the fiscal cliff will take effect in january unless congress can balance the budget. >>> time now, 7:49. police near seattle say a drunk driver ran over two holiday p shoppers last night at the a wal-mart. one o -- one of those victims was pinned beneath the suv. her injuries so severe she was air lifted to a trauma center. the driver a 71-year-old person was arrested on charges of vehicular assault. police say they did smell alcohol on his breath. >>> the black friday rush also got off to an ugly start in indianapolis. there was an angry rant and security was called in after an angry rant inside a kmart store last night. they were handed out $200 vouchers for plasma tvs and some of the shoppers began selling their vouchers to other p
with the fiscal cliff. >> after several days allowed the students are going back to school today first would take a live look outside and it is breezy and outside we will be right back. >> in world news this morning tens of thousands of children are returning to school in the gaza strip today. a small sign of the messy after eight days of fighting between israel and hamas. as the cease-fire continues to hold in the middle east. israel carried out about 1500 air strikes against hamas link targets in gaza. authorities say more than a hundred and 50 palestinians were killed, including 33 children. >> in each of rising tensions between the government and protesters following president mohammed more reseed decreed they gives him sweeping powers. morrissey made the declaration and tar rear square he's giving himself temporary powers he says are needed to battle enemies of the nation. >> the bay bridge approach clean and it is a nice day. we will be right back. uz >> and just about perfect to do anything that you need to do outside. i hope that you can make it out to enjoy the sunshine. >> it will be be
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